SABIC, Saudi Aramco declare intent to develop Yanbu industrial park

On 28 January, SABIC signed a Letter of Intent with Saudi Aramco to discuss the development of a downstream industrial and logistics park in Yanbu.

The signing took place on the sideline of the inauguration ceremony of the National Industrial Development & Logistics Program (NIDLP).

The companies previously selected Yanbu as the location for their upcoming crude-oil-to-chemicals complex, a joint venture between SABIC and Saudi Aramco.

The programme, which is one of 13 programmes meant to enable ‘Saudi 2030 vision’, aims to increase growth and integration among four major sectors of Saudi Arabia’s economy: industry, mining, energy and logistics.